Finished Fitness Center With Sports
For Sale
$575,000
791 Case Karsten Drive #1-2, Zeeland, MI 49464
Indoor recreation space combines athletic equipment, entertainment features, kitchen facilities, and dedicated mezzanine support areas.
Property Size2,128 SF
Days on Market25
Property Features for 791 Case Karsten Drive #1-2
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Commercial
Amenities
pickleball court
basketball hoop
golf simulator
projector
full kitchen
mezzanine hangout space
office
storage space
mounted speakers
led party lights
Building Details
Building Size
2,128 SF
Year Built
2025
Units
1
Listing Agency:
Coldwell Banker Woodland Schmidt ART Office
(616) 403-3442
Listed By:
Derrek Sterken · License #6501451743
(616) 403-3442
Source:
Homesforsaleinmich
Added: Jul 30
Changed: Aug 23
Last Checked: Aug 23 at 7:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Woodland Schmidt ART Office
Investment Insights
Based on property information with market context.
This 2025-built fitness and recreation unit is configured for indoor athletic use and group gatherings. Improvements include a pickleball court, mounted basketball hoop, Uneekor golf simulator, and a 188-inch projection screen. A commercial-grade kitchen provides appliances, solid-surface counters, and cabinet storage, while the built mezzanine adds an elevated gathering area, private office, and additional storage.
The property is located at 791 Case Karsten Dr in Zeeland, Michigan. Interior entertainment improvements include seven mounted speakers and LED party lighting. The unit is car-dependent, with a Walk Score of 6, and has a Bike Score of 44.
The property is located at 791 Case Karsten Dr in Zeeland, Michigan. Interior entertainment improvements include seven mounted speakers and LED party lighting. The unit is car-dependent, with a Walk Score of 6, and has a Bike Score of 44.
Key Highlights
- 2025‑built fitness and recreation unit at 791 Case Karsten Dr 1‑2, Zeeland, MI 49464
- Indoor pickleball court, mounted basketball hoop, and Uneekor golf simulator
- 188‑inch projection screen for sports viewing and entertainment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,403
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$628,060
$628.1K
Cap Rate 7%
$448,614
$448.6K
Cap Rate 9%
$348,922
$348.9K
Market Conditions
NOI Build-Up for 2,128 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.0K $21.60/SF
− Vacancy
−$1.1K −$0.52/SF
EGI
$44.9K $21.08/SF
− OpEx
−$13.5K −$6.32/SF
NOI
$31.4K $14.76/SF
Area
Ottawa County, MI
Vacancy
2.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$628,060
Cap Rate 7%
$448,614
Cap Rate 9%
$348,922
Alternative Uses
Best Use
Industrial
$448.6K
$392.5K – $523.4K
NOI $31,403 @ 7.0% cap · market cap 5.46%
Second Best
Flex RnD
$108.7K
$95.1K – $126.8K
NOI $7,610 @ 7.0% cap · market cap 1.32%
Theoretical Best
Multifamily LT 5
$26.46M
$23.15M – $30.87M
NOI $1,852,358 @ 7.0% cap · market cap 322.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49464, MI
29,654
Population
11,001
Households
2.7
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
73.1 sq mi
ZIP Area
406
Density / Sq Mi
$97,573
Median Household Income
$47,030
Median Earnings
$976
Median Rent
$316,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Flipside Gymnastics — 600 E Riley St, Zeeland, MI 49464
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- Transcend Wellness — 3307 Partridge Ave, Zeeland, MI 49464
Frequently Asked Questions
What type of property is this?
Fitness center & gym - Indoor recreation space combines athletic equipment, entertainment features, kitchen facilities, and dedicated mezzanine support areas.
Where is this fitness center & gym located?
The property is located at 791 Case Karsten Drive #1-2 Zeeland, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2025‑built fitness and recreation unit at 791 Case Karsten Dr 1‑2, Zeeland, MI 49464; Indoor pickleball court, mounted basketball hoop, and Uneekor golf simulator; 188‑inch projection screen for sports viewing and entertainment
